While the pundits are jumping up & down over a backward looking GDP they ignored the 500+k newly unemployed which is forward looking number. The jobless rate now for young blacks is now around 40%, which isn't a good thing for the nation.
"For everyone to whom much is given, of him shall much be required." -- Luke 12:48
Raven - Moneybird's Black Magic Marker***
(Esprit's Power Play x Trumarc's Lean Cuisine)
Mick - Moneybird's Jumpin' Jack Flash***
(Clubmead's Road Warrior x Oakdale Whitewater Devil Dog)
Peerless - Moneybird's Sole Survivor
(Two River's Lucky Willie x Moneybird's Black Magic Marker)
What the business insider story and the GDP figures show is that the CFC program was wildly successful in boosting car sales in Q3 far above what otherwise would have happened. In the process, the program depleted inventories of 2009 cars which were depressing the move to newer model cars. It is fully expected that sales will drop following the end of the program. The unknown is whether or not the acceleration of sales into Q3 will have beneficial effects in stimulating growth going forward. In the short term it appears to have done so given job recalls that have already happened. If the economy continues to grow at a 3.5-4% rate over the next year, I believe it will demonstrate a success of the stimulus program far beyond anything reasonably expected. If the economy fails to grow, it will indicate that the program basically failed.
And todays market??? Oh wait must be all that confindence in the administration and spendulous..............................
pigs eye regards,